Hempel Real Estate is a privately held real estate investment and development firm founded in 2001 by Jon Hempel and headquartered in Eden Prairie, Minnesota. The company operates throughout the Midwest with a regional office in Milwaukee, Wisconsin. Hempel focuses on acquiring, developing, and redeveloping underperforming commercial properties through value-add strategies and adaptive reuse projects. The firm maintains vertically integrated operations including in-house development, design and construction, accounting, property management, capital markets, and brokerage services. Josh Krsnak became the sole owner in December 2016 after purchasing the company from shareholders and serves as CEO. The company has completed over $1 billion in transactions since its inception, working with both institutional and high-net-worth investors. Primary markets include Minneapolis, St. Paul, and Milwaukee. Hempel pursues opportunistic acquisitions of distressed or underutilized assets across office, retail, multifamily, industrial, and parking sectors, emphasizing long-term repositioning and stabilization rather than short-term flips. Portfolio holdings are concentrated in Minnesota and Wisconsin, with selected investments in Texas, Illinois, and Georgia through its industrial outdoor storage platform.